PE-backed MedicAnimal acquires Petmeds
MedicAnimal, backed by Balderton Capital and Iris Capital, has acquired online pet medication and supplies retailer Petmeds.
Balderton Capital led a £10m series-C financing round for MedicAnimal in May this year. The company is commited to a buy-and-build strategy to increase its market share.
Company
Petmeds is an online retailer for pet medication, food and grooming products. Following the acquisition, MedicAnimal will employ 200 people. The company has a projected turnover of £55m in 2012.
People
Upon completion of the deal, Petmeds founder Ricky Thomas will join MedicAnimal. Ivan Retzignac is CEO of MedicAnimal.
Advisers
Equity – Clearwater Corporate Finance, Nick Jones (Corporate finance).
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